25 February 2018
visit www.ebaday.com

PrivatBank launches HCE-based mobile NFC payments service

27 February 2014  |  7122 views  |  0 NFC 2

Beating banks around the world to the punch, Ukraine's PrivatBank has launched a host card emulation-based mobile NFC payments service.

The Liqpay app, now available in beta, works with NFC smartphones running on Android 4.4 KitKat, letting users register any MasterCard or Visa card in order to fund payments made with a tap of their phone at contactless terminals.

Last week Visa and MasterCard gave their support to HCE, a cloud-based mechanism for hosting NFC applications outside the Secure Element that effectively removes the need for bank reliance on telcos in implementing mobile payments.

HCE allows any NFC application on an Android device to emulate a smart card, letting users pay with their smartphones, while permitting financial institutions to host payment accounts in a secure, virtual cloud, rather than renting space on the SIM from airtime operators.

Visa and MasterCard hope that by making deployment easier, HCE will usher in widespread adoption of mobile NFC payments, which have so far failed to take off.

Both card firms are working with several banking partners on rolling out the technology but PrivatBank seems to have got there first, with head of e-commerce business Alexander Vityaz, explaining: "Consumers will be able to download a beta-version of the Liqpay App starting tomorrow. We decided to use HCE because it is independent and a very easy solution."

Spain's BankInter has been showing off its HCE-based app at the Mobile World Congress show in Barcelona, but it has yet to release it to the general public, with the commercial launch scheduled for some time in Q2/Q3.
KeywordsEFTPOS

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Vodafone's Sanz insists that HCE is 'good news'

Vodafone's Sanz insists that HCE is 'good news'

26 February 2014  |  7277 views  |  1 comments | 6 tweets | 11 linkedin
Visa and MasterCard to cut ties binding banks and telcos via Host Card Emulation

Visa and MasterCard to cut ties binding banks and telcos via Host Card Emulation

19 February 2014  |  19857 views  |  12 comments | 45 tweets | 52 linkedin
SimplyTapp closes funding round to push HCE-based NFC payments

SimplyTapp closes funding round to push HCE-based NFC payments

27 November 2013  |  5693 views  |  2 comments | 5 tweets | 4 linkedin
RBC preps cloud-based mobile payments service

RBC preps cloud-based mobile payments service

18 July 2013  |  10645 views  |  0 comments | 13 tweets | 8 linkedin
Bankinter circumvents secure element hassle for mobile NFC payments

Bankinter circumvents secure element hassle for mobile NFC payments

04 March 2013  |  15328 views  |  8 comments | 14 tweets | 4 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit https://www.capgemini.comVisit www.vasco.comvisit www.swift.com/your-needs/instant-payments

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
12515 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10739 views 4 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
9191 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8569 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
8381 views comments | 11 tweets | 14 linkedin

Featured job

Find your next job